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Sebi allows 2 Alternative Investment Funds to run in India

MoneyControl – Two more entities have received market regulator Sebi’s approval to set-up Alternative Investment Funds (AIFs), a newly created class of pooled-in investment vehicles for real estate, private equity and hedge funds. The approval has been given to two AIFs by the Sebi (Securities and Exchange Board of India) within a period of less than one month, as per the information available with the market regulator.

Sebi had already allowed seven AIFs to set up shop in the country. As on August 31, 2012, as many as 20 applications were pending with Sebi for registration as AIFs.

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